Index Rises to New Record

Updated April 22, 1999 4:00 a.m. ET

SYDNEY, Australia -- The All Ordinaries Index rose to a record high on Thursday on interest in bank shares.

The indicator gained 50 points, or 1.6%, to end at 3118.3, passing the previous high of 3113.1 set on Monday. Advancing issues outnumbered decliners, 571 to 310, as 387.2 million shares worth 1.11 billion Australian dollars were traded.